Cattle Healthcare Market | Growth, Trends and Forecast (2018-2023)
Cattle Healthcare Market - Segmented by Product Type, Type of Diagnostics, and Geography - Growth, Trends, and Forecast (2018 - 2023)

PUBLISHED

JUL 2018

Cattle Healthcare Market - Segmented by Product Type, Type of Diagnostics, and Geography - Growth, Trends, and Forecast (2018 - 2023)

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The Cattle Healthcare market was valued at USD 6228.27 million in 2017, is expected to register a CAGR of about 5.84% during the forecast period, 2018-2023. Cattle healthcare includes the treatment and diagnosis of cattle. Cattle healthcare is being fueled by the increasing beef consumption and rising demand for animal protein in the market. Increasing incidences of zoonotic diseases have been another major factor for the requirement of early diagnosis and treatment of the cattle, leading to the growth of the market. However, lack of infrastructure and funding, and increasing costs of animal testing and veterinary services are hindering the market growth.

Increasing R&D in the Animal Health Drug Sector Fuels the Growth of Cattle Healthcare Market

According to Animal Health Institute (AHI), the AHI member companies typically spend 10-12% of their sales investing in new innovations in animal health. Numerous medicines have been developed that are used in prevention and treatment of animal health issues, such as flea and tick infestation, Lyme disease, rabies, diabetes, feline leukemia, and other types of cancers.

There is a rise in research and development expenditure by many companies Eg; Zoetis incurred R&D expense of USD 382 million in 2017, USD 376 million in 2016 and USD 364 million in 2015. Their major focus is on developing novel vaccines and developing technologies for predicting disease with genetic tests. Few companies, such as Connecterra are investing in research of cattle monitoring and analyzing data for informing the on-time actions to cattle farms. This helps the farms to take preventive measures and avoid future losses. Ireland is continuously investing in IT and genomic technology and their cattle traceability systems (for identification and movement control systems) are the best in the world. The Animal Health Ireland generates significant animal health data through its programs – this is currently hosted by the Irish Cattle Breeders Federation (ICBF). The other factors, such as increasing initiatives by governments across the globe, insurance policy in different countries, and advanced technology leading to innovations in the cattle health sector are driving the cattle healthcare market to grow.

Regulatory Challenges and Incompatible Cattle Health Information Management Systems

Globally, bureaucratic delays in public sector testing and registration process of new cattle health products are common. This problem is severe in emerging countries. A critical barrier to innovation is existing regulatory and registration processes, which are inflexible and are unable to accommodate novel technologies. In the registration of biological control agents, such as entomopathogens for livestock parasite control, there is an administrative delay because the product does not fit any existing category (e.g., vaccines or veterinary medicines). An attempt to bring such products to market can, therefore, be delayed and expensive.

In developing countries, lack of monitoring committee against counterfeit medicines for cattle and diagnostic tests to diagnose the disease correctly is the cause of drug resistance in cattle is affecting the cattle health market. The incompatibility of data management systems often complicates the exchange of knowledge between the scientific community, policymakers, and the Cattle food production sector. Data collected by policymakers and the sector often lacks the most relevant data according to industry best practices and the latest scientific research. The other factor, such as lack of infrastructure and funding is also hindering the growth of the market.

Market Segmentation Insights for the Cattle Healthcare Market

The global cattle health market is segmented by product type and by type of diagnostics.

The product type segmentation comprises of vaccines, parasiticide, anti-infective, medical feed additive, and other pharmaceuticals. The vaccine segment held the largest market share in 2017. The growth in the segment can be attributed to the increasing concern over food safety and increasing awareness about cattle health among livestock farmers. There are three types of vaccines available for farm animals: inactivated (killed) vaccines, which contain virus and bacteria that are killed through heating or chemical treatments, live attenuated vaccines that contain whole viruses or bacteria, which have been weakened or attenuated, and subunit vaccines that contain viral or bacterial antigens, which can trigger an immune response

The diagnostic type segmentation includes immunodiagnostic test, molecular diagnostics, diagnostic imaging, clinical chemistry, and other veterinary diagnostics. Immunodiagnostic tests accounted for the largest market value in 2017. There is an increase in the number of infectious diseases in cattle, which has driven the market for new immunodiagnostic tests.

North America to Dominate the Cattle Healthcare Market

The North America cattle healthcare market held the largest market share in 2017, globally, due to increasing R&D expenditure in cattle health and advanced technology leading to innovations in the cattle health sector in this country, which, in turn, helps in the growth of this market. Veterinary vaccines in the United States are regulated by the Center for Veterinary Biologics (CVB) in the Animal and Plant Health Inspection Service (APHIS). The CVB grants establishment and product license to animal health companies, in order to manufacture and sell veterinary biologics. FDA has no role in regulating vaccines for animal diseases. Vaccination, in companion and wildlife animals for zoonotic diseases, had a great impact on reducing the incidence of zoonotic diseases in people. The aforementioned factors are driving the growth of the Livestock Vaccines in North America.

                                                    

Key Developments in the Market:

  • June 2018: Elanco Animal Health Introduced New Respiratory PRRS Vaccine
  • January 2018 – Elanco Announced Global Agreement with Ab E Discovery for New Technology

Major Players: Abaxis, Bayer Healthcare, Boehringer Ingelheim, Ceva Animal Health, Inc, Elanco, IDVet, Merck, Virbac, and Zoetis Animal Healthcare, amongst others.

Cattle Healthcare Market Segmentation

Cattle Healthcare Market by Product Type

  • Vaccine
  • Parasiticide
  • Anti-infective  
  • Medical Feed Additive
  • Other Pharmaceuticals

Cattle Healthcare Market by Type of Diagnostics

  • Immunodiagnostic Test
  • Molecular Diagnostics
  • Diagnostic Imaging  
  • Clinical Chemistry
  • Other Veterinary Diagnostics

Cattle Healthcare Market by Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • Asia Pacific     
    • Japan
    • China
    • India
    • Australia
    • South Korea
  • Middle East and Africa
    • GCC
    • South Africa
  • South America
    • Brazil
    • Argentina

Country-Level Data Points Coverage and Deliverables for Cattle Healthcare Market

Cattle Healthcare Market Report Summary

Metrics

Details

Industry

Cattle Healthcare Market

Study Period

(2015 – 2023)

Growth Rate

5.84%

Segmentation Scope

By product type (vaccine, parasiticide, anti-infective, medical feed additive, other pharmaceuticals)

By diagnostics (immunodiagnostic test, molecular diagnostics, diagnostic imaging, clinical chemistry, other types of diagnostics)

Regional Scope

North America (US, Canada, Mexico), Europe (UK, Germany, France, Italy Spain, Rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and Rest of Asia Pacific), Middle East & Africa (GCC, South Africa and Rest of MEA) and South America (Brazil, Argentina and Rest of South America)

Key Developments

June 2018: Elanco Animal Health Introduced New Respiratory PRRS Vaccine

January 2018 – Elanco Announced Global Agreement with Ab E Discovery for New Technology.

Companies Covered

Abaxis, Bayer Healthcare, Boehringer Ingelheim, Ceva Animal Health, Inc, Elanco, IDVet, Merck, Virbac, and Zoetis Animal Healthcare, among others

Report Offerings

Cattle Healthcare Market offers the latest trends, growth prospects, industry competitiveness, major players, regional share of market and forecast to 2023.

Reasons to Purchase this Report

  • Current and future cattle healthcare market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players.
  • 3-month analyst support, along with the Market Estimate sheet in excel

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1. Introduction

                1.1 Market Definition

2. Research Methodology

3. Executive Summary

4. Key Inferences

5. Market Overview

                5.1 Current Market Scenario

                5.2 Porter's Five Forces Analysis

                                5.2.1 Bargaining Power of Suppliers

                                5.2.2 Bargaining Power of Consumers

                                5.2.3 Threat of New Entrants

                                5.2.4 Threat of Substitute Product and Services

                                5.2.5 Competitive Rivalry within the Industry

6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)

                6.1 Market Drivers

                                6.1.1 Increasing Research & Development Expenditure in Cattle Health

                                6.1.2 Increasing Initiatives By Governments and Insurance Policy In Different Countries

                                6.1.3 Advanced Technology Leading to Innovations in the Cattle Health Sector

                6.2 Market Restraints

                                6.2.1 Regulatory Challenges and Incompatible Cattle Health Information Management Systems

                                6.2.2 Lack of Infrastructure and Funding

                6.3 Opportunities

                6.4 Key Challenges

7. Market Segmentation

                7.1 By Product Type

                                7.1.1 Vaccine

                                7.1.2 Parasiticide

                                7.1.3 Anti-infective  

                                7.1.4 Medical Feed Additive

                                7.1.5 Other Pharmaceuticals

                7.2 By Type of Diagnostics

                                7.2.1 Immunodiagnostic Test

                                7.2.2 Molecular Diagnostics

                                7.2.3 Diagnostic Imaging  

                                7.2.4 Clinical Chemistry

                                7.2.5 Other Veterinary Diagnostics

                7.3 By Geography

                                7.3.1 North America

                                                7.3.1.1 United States

                                                7.3.1.2 Canada

                                                7.3.1.3 Mexico

                                7.3.2 Europe

                                                7.3.2.1 France

                                                7.3.2.2 Germany

                                                7.3.2.3 United Kingdom

                                                7.3.2.4 Italy

                                                7.3.2.5 Spain

                                                7.3.2.6 Rest of Europe

                                7.3.3 Asia-Pacific

                                                7.3.3.1 China

                                                7.3.3.2 Japan

                                                7.3.3.3 India

                                                7.3.3.4 Australia

                                                7.3.3.5 South Korea

                                                7.3.3.6 Rest of Asia-Pacific

                                7.3.4 Middle East & Africa

                                                7.3.4.1 GCC

                                                7.3.4.2 South Africa

                                                7.3.4.3 Rest of the Middle East & Africa

                                7.3.5 South America

                                                7.3.5.1 Brazil

                                                7.3.5.2 Argentina

                                                7.3.5.3 Rest of South America

8. Competitive Landscape

                8.1 Mergers and Acquisition Analysis

                8.2 Agreements, Collaborations, and Partnerships

                8.3 New Products Launches

9. Key Players

                9.1 Abaxis

                9.2 Bayer Healthcare

                9.3 Boehringer Ingelheim

                9.4 Ceva Animal Health, Inc

                9.5 Elanco

                9.6 IDVet

                9.7 Merck

                9.8 Virbac

                9.9 Zoetis Animal Healthcare

                **List Not Exhaustive

10. Future of the Market

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